New Report Details Cummins’ Strategy for Creating a Great Workplace
Cummins Inc. has released its new 2023 Human Capital Management Report detailing the company’s approach to talent management and the critical role employees play in the global power technology leader’s overall success and sustainability.
President and CEO Jennifer Rumsey says in the report that Cummins is an exciting place to work as the company strives to be a leader on climate action.
"As an industry leader, Cummins has an incredible responsibility and opportunity to be part of the solution to addressing climate change,” Rumsey said in a letter introducing the report. “Our business and environmental strategies are aligned to capture the growth opportunity decarbonization presents for both our company and Cummins’ stakeholders.”
The 2023 report includes the latest data on the company’s efforts on diversity, equity and inclusion, one of five corporate values and a key pillar in Cummins’ human capital management strategy. Highlights include:
- 40.7% of the company’s Vice Presidents and officers were women in the year ending Dec. 31, 2022.
- 46.7% of the Cummins Leadership Team, the CEO’s top committee, are currently women.
- Three of the company’s five business segments are led by women.
- Cummins in 2022 named its first female Chief Executive Officer.
- 25% of the company’s U.S.-based Vice Presidents and officers were Black or Latino in 2022.
Cummins strongly believes that diversity, equity and inclusion creates a more dynamic workplace. Teams of employees with different backgrounds, approaches and skillsets are more likely to arrive at creative solutions to customers’ most difficult challenges. It also creates a more interesting place to work, aiding recruitment and retention.
Other key pillars to Cummins’ human capital management strategy detailed in the company’s second Human Capital Management Report include:
- Developing self-aware and effective leaders who inspire employees to reach their full potential.
- Extending talent processes to every level and job type, so every employee has access to the training and development afforded by a global company like Cummins.
- Engaging employees in all aspects of wellness – financial, physical and mental – through competitive compensation and benefits.
“The best companies have strong values, an outstanding leadership culture and a rich history of acting with integrity,” said Marvin Boakye, Vice President – Chief Human Resources Officer, in a separate essay in the report. “All three exist at Cummins and make this company an outstanding place to work and pursue a career.”
The report is available in the company’s Sustainability Document Archive. Earlier this year, Cummins also posted its report to the framework established by the Taskforce for Climate-related Financial Disclosures and is currently putting the final touches on its 2022-2023 Sustainability Progress Report.